From industry stalwarts to buzzy startups, high-profile San Francisco and Silicon Valley tech firms have laid workers off in May and June this year. — Jobless photo created by freepik - www.freepik.com
The tech industry is on high alert these days.
Between the historic hike of the federal interest rate, the crash and burn of crypto at large and the bear market making conditions unfavourable for once-bullish startup investors, tech, once flowing in cash, has felt the pinch acutely. Companies that had already laid individuals off at the onset of the pandemic or assured employees that they would not lay anyone off in recent weeks have cut their staffing drastically.
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